Amazon Web Services (AWS) has unveiled a US$230 million commitment to support generative AI startups globally.
This initiative aims to accelerate the development and market entry of new generative AI applications, providing early-stage startups with AWS credits, mentorship, and educational resources to enhance their use of AI and machine learning technologies.
The new funding will support the second cohort of the AWS Generative AI Accelerator, offering up to US$1 million in AWS credits to each of the 80 selected startups using generative AI to address complex challenges. Applications for the programme are open until 19 July.
Startups can utilise AWS credits to access various AWS technologies, including compute, storage, and database services, as well as AI chips like AWS Trainium and AWS Inferentia2.
These credits can also be used with Amazon SageMaker, a service for building and training AI models, and Amazon Bedrock, which provides tools for developing generative AI applications.
The AWS Generative AI Accelerator focuses on identifying top early-stage startups working on solutions in sectors such as financial services, healthcare, media, business, and climate change.
The 10-week programme includes sessions on machine learning performance, stack optimisation, and go-to-market strategies.
Participants will receive mentorship from both business and technical experts and will be eligible for up to US$1 million in AWS credits.
They will also have access to industry insights from NVIDIA and be invited to join the NVIDIA Inception programme.
Selected startups for the second cohort will be announced on 10 September, with the programme beginning on 1 October at Amazon’s Seattle campus.
In December, participants will have the opportunity to present their solutions at re:Invent 2024 in Las Vegas.
“For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96% of all AI/ML unicorns run on AWS.
With this new effort, we will help startups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business.”
said Matt Wood, Vice President, Artificial Intelligence Products at AWS.
Featured image source: AWS